Christian Lacroix May Have a Buyer
Christian Lacroix, the top-flight couture designer, earlier this month oversaw what many thought would be his last show for the time being as the global recession hit the luxury label he had grown for 22 years.
Lacroix needed backers with deep pockets to plug the estimated £50 million shortfall for a re-launch of the label which launched insolvency proceedings in late May. He managed to put on a small show at Paris Couture Week in which, reportedly, only the models were paid.
However, investment group Bernard Krief Consulting is planning to make an offer next week for the cash-strapped French fashion designer – which it believes is a part of the France’s cultural heritage.The buy-out could see Christian Lacroix return to the business of high-end fashion and replace faith in luxury brands.
The Christian Lacroix label has never made a profit in its 22 years of existence. Bernard Krief Consulting said it believed it was the only bidder for the company and it aims to increase Christian Lacroix’s revenues fivefold within five years.
Related Stories from the Past Month:
- Fashion Winter 2010: Capes
- Fashion: Julien Fournié Autumn Winter 2010-11
- USA: Native Americans Resist Casino Pressure
- New York: Soho Grand Hotel Gets New Luxury Suites
- Stephane Rolland Haute Couture Winter 2010
Posted by Linda Haywood
on Wed, 22 Jul 2009 02:49:41. Click Here to Subscribe to Linda Haywood by RSS. Filed under Business, Fashion, Lifestyle.
You can follow any responses to this entry through the RSS 2.0.
You can leave a response or trackback to this entry
